This year we have had 2 clients who needed a signed Deed of Gift but didn’t have one.
The father of our first client was a politician. He had a big parcel of land somewhere in Alimosho but he died unexpectedly and didn’t leave any land document with his lawyer or any of his children. The good thing is that the children are not fighting each other for the land. They are all based abroad and want to sell it. The problem is there’s no document showing how they got possession of the land. Their dad did not bequeath the land to anyone.
The mother of our second client had about 2 plots somewhere in Eputu, Ibeju-Lekki. She had a deed of gift which bequeathed the land to her daughter (our client) but the deed was never signed. Our client lives abroad and is contemplating selling the land but the unsigned deed of gift is an issue.
Now, what is a deed of gift? According to Wikipedia, a deed of gift is a SIGNED legal document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property – such as a gift of materials – from one person or institution to another.
In order words, a deed of gift helps you to transfer your property to anyone.
Our two clients won’t have any issues taking full possession of their land if a properly prepared deed of gift was done by their parents.
If you have any property you want to bequeath to your loved ones in the event of your demise, get a properly signed deed of gift prepared by your lawyer now. Life is unpredictable.